MO SB784

Repeals and reenacts section 173.1105, RSMo, to modify award amounts for undergraduate students in the Access Missouri financial assistance program.

For academic years 2010-2011 through 2013-2014, establishes maximum awards of $1,000 for public two-year institutions, $2,150 for public four-year institutions (including Linn State Technical College), and $4,600 for approved private institutions, with corresponding minimum awards of $300, $1,000, and $2,000.

For the 2014-15 academic year and subsequent years, increases maximum awards to $1,250 for public two-year institutions and $2,850 for public four-year institutions and approved private institutions, with minimum awards of $300 and $1,500 respectively.

Students with expected family contribution of $12,000 or less receive at least the minimum award amount; maximum awards are reduced by 10 percent for students with expected family contribution above $7,000.

Award amounts are reduced by any payment from the A+ schools program; if appropriated funds are insufficient, maximum awards are reduced proportionally across all sectors, and any excess funds increase the number of recipients rather than award size.